Apr 13, 2011

Inco to distribute Rp127/share dividend

One of Indonesia's largest nickel producer PT International Nickel Indonesia Tbk decided to distribute US$148 million or Rp1.3 trillion dividend, equal to US$0.0146 per share or Rp127 per share of US$437.36 million net income gained last year.

The dividend payment was agreed today at an Annual General Meeting of Shareholders (AGMS) today, Inco Director of Finance Fabio Bechara said. The dividend payment added to interim dividend of US$0.02 paid last year, he added. In total, for the period of 2010, Inco will pay US$0.0346 dividend, reflecting 78.6% of FY10 net income.

The higher dividend was supported by a 156.64% increase in 2010 net income 2010 to US$437.36 million from US$170.42 in 2009.

Then, revenue of the company owned by Vale Canada Limited doubled to US$1,276.32 million from US$760,95 million. Historically, the dividend payout ratio was relatively stable within 65%-75% of net cash.

The INCO-coded share was traded at Rp4,925 per unit, 1.03% higher from the opening level, at 11.30 Jakarta time, and formed a market capitalization of Rp48.94 trillion.